More Companies Are Defaulting Over and Over Again, S&P Says

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Bloomberg News

S&P Global Ratings,Capital Structures

(Bloomberg) -- The percentage of companies that have defaulted on their debt more than once has reached its second highest level since 2008, according to a...

The Producer Price Index in March rose 0.2% from the previous month, a lower rate of growth than economists had forecast -- The percentage of companies that have defaulted on their debt more than once has reached its second highest level since 2008, according to a new report from S&P Global Ratings.Chinese Cement Maker Halted After 99% Crash in 15 Minutes

Higher-than-estimated consumer inflation has lowered expectations for the number of rate cuts from the Federal Reserve this year. That so called higher-for-longer environment will make it more difficult for the most leveraged, high-risk companies, especially those that have already defaulted. Such transactions only provide “a temporary reprieve to issuers in regaining their footing,” said S&P, which labels those as “selective defaults.”

TORONTO — The federal government will allow 30-year amortization periods on insured mortgages for first-time homebuyers purchasing newly built homes. Finance Minister Chrystia Freeland made the announcement in Toronto on Thursday, saying it will take effect Aug. 1. "Faced with a shortage of housing options and increasingly high rent and home prices, younger Canadians understandably feel like the deck is stacked against them," Freeland said in a news release.

 

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